Cancel or Update Stop Market Order by Nick Georgiadis

Nick Georgiadis INVESTOR

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Hi Guys,
Quick question. Let's say I create a market order for a security using SetHoldings() function and immediatelly after that I create a stop market order using StopMarketOrder() function.

1) If I sell the security again using SetHoldings(security, 0). The stop order is instantly cancelled or I have to explicitly implement that?
2) If I rebalance my position and want to update the stop market order should I cancel the previous one or there already an update function?
Many thanks

Update Backtest

Nick Georgiadis

Accepted Answer

Update Backtest

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Michael Manus

10.2k ,

second qquestion is easy:

the documentation says:

https://www.quantconnect.com/docs/algorithm-reference/trading-and-orders#Trading-and-Orders-Introduction

# Creating an Order: limitOrderTicket = self.LimitOrder("SPY", 100, 205) # Updating an Order: updateOrderFields = UpdateOrderFields() updateOrderFields.LimitPrice = decimal.Decimal(207.50) limitOrderTicket.Update(updateOrderFields) # Cancel an Order: limitOrderTicket.Cancel() # Cancel all open orders from SPY cancelledOrders = self.Transactions.CancelOpenOrders("SPY") # Cancel order #10 cancelledOrder = self.Transactions.CancelOrder(10) # Get open orders openOrders = self.Transactions.GetOpenOrders() # Get open orders from SPY openOrders = self.Transactions.GetOpenOrders("SPY") # Get open order #10 openOrder = self.Transactions.GetOrderById(10) # Get all orders orders = self.Transactions.GetOrders() # Get order ticket #10 orderTicket = self.Transactions.GetOrderTicket(10) # Get all orders tickets openOrderTickets = self.Transactions.GetOrderTickets()

1) you would have to implement it i think.......like the example above because maybe you would want to go SHORT at this point?? who nows? only you

i mean its not a bracket order you would have to implement something like a bracket order

Nick Georgiadis

428 ,

Cheers Michael.

Michael Manus

10.2k ,

if you need an idea how it should work thats an c# example

but you could copy the logic if you want and try that in python

https://www.quantconnect.com/forum/discussion/1700/support-for-one-cancels-the-other-order-oco-

T. Todua

49 ,

what is answer to #1 question?

Derek Melchin

STAFF ,

Hi T. Todua,

In regards to question #1, the stop order is not automatically canceled if we SetHoldings to 0, but it is if we use the Liquidate method. See the attached backtest and logs for reference.

Best,
Derek Melchin

Nick Georgiadis INVESTOR

Update Backtest

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